IE Business Daily Business news for the Inland Empire.
National retail sales slowed last week, with most sectors posting only modest gains.
Sales were up 1.8 percent year-over-year for the week that ended Saturday and were down 1.6 percent compared with the previous week, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index.
Only electronics posted solid gains last week, said Michael Niemira, research consultant with the council, in a statement.
As recently as three weeks ago, year-over-year sales were up 3.8 percent.
Warmer-than-usual temperatures probably lessened demand in some retail categories, but sales should climb back up as the weather cools and the holiday shopping season kicks into gear, Niemira said.
Earlier this month, the New York-based council predicted that October sales will be up four to five percent compared with October 2013. This week’s statement did not include a forecast.
October sales figures are scheduled to be released Thursday.
